If you are serious about buying a home, then this handbook will be your guide as you search for that "just right" property. Joseph J. Pacelli, who has more than fifty years of experience in the real estate and construction industries, remembers when interest rates were at eighteen percent and no one wanted to buy a home. These days, things are different, and the smart money is looking to buy. With this handbook, you'll learn proven ways to � avoid being trapped in a bad deal � � pick the right real estate agent to help you meet your goals � � deal with challenges during your search and until closing � � successfully navigate a landscape of erratic interest rates � � maximize the value of your investment � Get the answers you need to serious house hunting and buying issues with a handbook written in plain English. Be more informed and smarter than your peers and equip yourself with THE REAL ESTATE BUYER'S AWARENESS PLAN.

Auszug. � Genehmigter Nachdruck. Alle Rechte vorbehalten.

The Real Estate Buyer's Awareness Plan

The Ten Basic Steps to Find and Buy That "Just Right" PropertyBy Joseph J. Pacelli

iUniverse, Inc.

Copyright � 2011 JNJ REALTY LLC
All right reserved.
ISBN: 978-1-4620-0040-1

Chapter One

NOW LET'S GET STARTED!

Step One

Learn the language of real estate and the Law of Agency. The Plain English Language of Real Estate Terms

In order to feel confident throughout the process of locating and purchasing real estate, you must become familiar with the words and phrases used by most of the professionals in the business.

Don't be intimidated, it's not that difficult!

Real Estate Broker- an individual licensed by the State to represent the public in real estate transactions and who can legally accept payment for those services rendered.

Serious Buyer- that special someone who is ready, willing and able to make a real estate purchase.

Uncle Louie- usually a respected family member who has an opinion on everything and is not reluctant to make it known.

Seller- a person or entity having legal authority to transfer ownership of a property to another person or entity.

Listing Agreement- a contract between a seller and a licensed real estate broker by which the seller appoints the broker as its authorized agent to offer a property for sale to the public.

Co-brokerage- in effect when the commissions earned from the sale of a property is shared among participating brokers.

Buyer's Agent- the real estate broker who has the contract with a buyer to assist in locating a suitable property for purchase and who has agreed to represent the buyer throughout the entire transaction.

Exclusive Buyer's Agent- a buyer's agent working exclusively for the buyer/client, and only the buyer/client, throughout the entire transaction.

Seller's Agent- a real estate broker who has contracted with a seller to list and market a particular property for sale and who represents only the seller throughout the entire transaction.

Agency Disclosure- the customer must be made aware of the agency relationship with the broker before becoming a client.

Open House- an open invitation to the public to inspect a property. It's usually offered by the listing agent. However, in some instances, the invitation will be made by the FSBO seller.

For Sale By Owner (FSBO)- the seller is attempting to market the property without using the services of a licensed real estate professional.

Single Agency- the real estate broker must work for only one client throughout the entire transaction.

Dual Agency- a broker can work for both the seller and the buyer in the same transaction, after a full disclosure is made to all parties.

Designated Agency- (allowed in some states) occurs when the real estate broker appoints and designates a specific agent to represent either the seller or the buyer in the same transaction.

REALTOR�- active member of an association of professionals who is dedicated to the highest standards of conduct in serving the needs of the real estate community and is guided by a strict Code of Ethics.

Multiple Listing Services (MLS)- organizations that distribute listings information to its participating broker members.

Mortgage Broker- a person licensed by the State who acts as an agent for both the lender and the borrower in the same transaction.

Mortgage Loan- has two parts: 1) the note, which is the promise to repay a debt; and 2) the agreement, which is the document that creates the lien with the pledge of real estate as the security.

Adjustable Rate Mortgage (ARM)- whereby the interest rate on the loan amount will be adjusted in accordance with the terms and conditions of the mortgage agreement.

Points- each point is equal to one percent of the loan amount.

Veterans Administration (VA)- the Federal Government agency that guarantees loans issued to qualified veterans.

Federal Housing Administration (FHA)- the Federal Government agency that insures loans issued by approved lenders to qualified borrowers.

Appraisal- the written evaluation, prepared by a recognized licensed entity or individual, for a specific property.

Interest Rate- the charge for borrowing money usually expressed as an annual percentage rate and/or as a percentage of the loan amount.

Commissions- payments to brokers for services rendered, usually based on a percentage of the sales price. Commissions are always negotiable.

Fees- payments to professionals for services rendered, usually a fixed amount which is not based on the sales price.

Escrow- the funds are held in a trust account by a recognized agent, usually to pay taxes and insurance, or may be held as a deposit toward the purchase price of real estate.

Earnest Money- the deposit, made by a potential buyer, offered as evidence of good faith that accompanies a written offer to purchase real estate.

Equity- the value that remains in a property after all the deductions have been made for any current and /or future indebtedness.

Due Diligence- the thorough research of all relevant issues affecting the subject property, performed in a timely manner.

Fico Score (Fair Isaac and Co)- the numerical value, indicating current credit strength, assigned to a credit report.

Attorney Review Period- the time allocated for the review of the terms and conditions of a contract offer to purchase.

Comparative Market Analysis (CMA)- provides very useful information on similar properties in a given area currently on the market, recently removed, under contract, or sold.

Good Faith Estimate- a reliable estimate of the anticipated loan costs and charges due to be paid at closing.

Vicarious Liabilities- the actions or statements made by an agent that could become the responsibility of the client.

Pre-qualification- determines the Buyer's purchasing power.

Pre-approved- the confirmation by a lender of the mortgage loan amount available to a borrower on a specific loan application.

Adult Communities- housing units established and designed for a specific adult lifestyle.

Condominium Ownership- a multi-unit complex in which the apartments are individually owned, however, the common areas exist as a shared ownership.

Agency Relationships

Single Agency- in effect, when the real estate agent works for only one client in the transaction, the seller or the buyer, but not for both.

Dual Agency- in effect when the broker works for both the seller and the buyer, in the same transaction. Be aware that the broker must fully disclose this fact to each party and receive the informed written consent from both parties.

The Dual Agency Broker accepts the risk and the responsibility of walking a very fine line when attempting to "fairly and honestly" represent both parties in the same transaction. This comment is by no means a veiled attempt to suggest it can't happen. It can, it has, and it most likely will continue to happen.

In most cases the transactions were completed successfully and all parties are still very satisfied with the outcome. However, there have been some situations that did not turn out as expected. One or both of the participants feel as...

��ber diesen Titel� kann sich auf eine andere Ausgabe dieses Titels beziehen.

Anbieterinformationen

We carry a wide selection of books from South Asia, United States, UK.

Zur Homepage des Verk�ufers

Unternehmensdaten des Verk�ufers

Readingos GmbH
Kaiserstra�e 47, Frankfurt am Main, 60329, Germany

Gesch�ftsbedingungen und Versandinformationen

Verkaufsbedingungen

Widerrufsrecht

Wenn Sie Verbraucher sind, k�nnen Sie gem�� den folgenden Bestimmungen vom Vertrag zur�cktreten. Verbraucher ist jede nat�rliche Person, die zu Zwecken handelt, die nicht ihrer kaufm�nnischen, gewerblichen, k�nstlerischen oder beruflichen T�tigkeit zugerechnet werden k�nnen.

Informationen zum Widerrufsrecht

Gesetzliches Widerrufsrecht

Sie haben das Recht, den Vertrag innerhalb von 14 Tagen ohne Angabe von Gr�nden zu widerrufen.

Die Widerrufsfrist betr�gt 14 Tage ab dem Tag, an dem Sie oder ein von Ihnen benannter Dritter, der nicht der Transporteur ist, die letzte Ware oder den letzten Posten oder das letzte Exemplar in Besitz genommen hat.

Um das Widerrufsrecht auszu�ben, f�llen Sie auf unserer Website unter „Meine Eink�ufe" in „Mein Nutzerkonto" eine eindeutige Erkl�rung elektronisch aus und senden Sie sie ab. Wir werden Ihnen unverz�glich eine Best�tigung �ber den Eingang eines solchen Widerrufs auf einem dauerhaften Datentr�ger (z. B. per E-Mail) �bermitteln.

Um die Widerrufsfrist einzuhalten, reicht es aus, dass Sie Ihre Mitteilung �ber die Aus�bung des Widerrufsrechts vor Ablauf der Widerrufsfrist absenden.

Auswirkungen des Widerrufs

Wenn Sie diesen Vertrag widerrufen, erstatten wir Ihnen alle Zahlungen, die wir von Ihnen erhalten haben, einschlie�lich der Lieferkosten (mit Ausnahme der zus�tzlichen Kosten, die entstehen, wenn Sie eine andere Art der Lieferung als die von uns angebotene g�nstigste Standardlieferung gew�hlt haben).

Wir k�nnen einen Abzug von der R�ckerstattung f�r den Wertverlust der gelieferten Waren vornehmen, wenn der Verlust auf eine unn�tige Behandlung durch Sie zur�ckzuf�hren ist.

Wir werden die R�ckerstattung unverz�glich und nicht sp�ter als 14 Tage nach dem Tag vornehmen, an dem wir �ber Ihre Entscheidung, diesen Vertrag zu widerrufen, informiert wurden.

F�r die R�ckerstattung verwenden wir dasselbe Zahlungsmittel, das Sie f�r die urspr�ngliche Transaktion verwendet haben, es sei denn, Sie haben ausdr�cklich etwas anderes vereinbart; in keinem Fall werden Ihnen aufgrund einer solchen R�ckerstattung Geb�hren berechnet.

Wir k�nnen die R�ckzahlung verweigern, bis wir die Waren wieder zur�ckerhalten haben oder Sie den Nachweis erbracht haben, dass Sie die Waren zur�ckgesandt haben, je nachdem, was eher eintritt.

Sie m�ssen die Waren unverz�glich und in jedem Fall sp�testens 14 Tage ab dem Tag, an dem Sie uns �ber den Widerruf dieses Vertrags unterrichten, an Biblios, frankfurt am main, Germany, zur�cksenden oder �bergeben. Die Frist ist eingehalten, wenn Sie die Ware vor Ablauf der Frist von 14 Tagen zur�cksenden. Sie m�ssen die direkten Kosten der R�cksendung der Waren tragen. Sie haften nur f�r einen etwaigen Wertverlust der Waren, der auf eine Behandlung zur�ckzuf�hren ist, die nicht zur Pr�fung der Art, Eigenschaften und Funktionsweise der Waren erforderlich ist.

Ausnahmen vom Widerrufsrecht

Das Widerrufsrecht gilt nicht f�r:

Die Lieferung von Zeitungen, Zeitschriften oder Magazinen mit Ausnahme von Abonnementvertr�gen; und
Die Lieferung digitaler Inhalte, die nicht auf einem physischen Medium (z. B. auf einer CD oder DVD) geliefert werden, wenn Sie bei Ihrer Bestellung akzeptiert haben, dass wir mit der Lieferung beginnen k�nnen und dass Sie nach Beginn der Lieferung den Vertrag nicht mehr widerrufen k�nnen.

Versandbedingungen

To ensure faster delivery, books may be shipped from any of the following locations; Germany, the United Kingdom (UK), the United States (US),based on the buyer's address and product availability.

Versandkosten von Deutschland nach USA

Versandkosten von Deutschland nach USA
Bestellmenge	25 bis 45�Werktage	8 bis 14�Werktage
Erster Artikel	EUR 9.95	EUR 18.70

Die Versandzeiten werden von den Verk�uferinnen und Verk�ufern festgelegt. Sie variieren je nach Versanddienstleister und Standort. Sendungen, die den Zoll passieren, k�nnen Verz�gerungen unterliegen. Eventuell anfallende Abgaben oder Geb�hren sind von der K�uferin bzw. dem K�ufer zu tragen. Die Verk�uferin bzw. der Verk�ufer kann Sie bez�glich zus�tzlicher Versandkosten kontaktieren, um einen m�glichen Anstieg der Versandkosten f�r Ihre Artikel auszugleichen.

Impressum & Info zum Verk�ufer